Most regulators and market participants agree that Europe's financial markets are dysfunctional. With banking assets amounting to roughly 300 of EU wide GDP, compared to some 70 in the United States, large pools of savings are being left unused.

Europe s Chimerical Capital Markets Union

Like all markets, the EU s Single Market is a political construct that relies on common rules, regulations, and conventions for stability and reliability. Returning to national governments rule making powers that could be used to impose criteria aimed at excluding others would endanger the entire market.

Meanwhile, the traditional forum for EU US talks, the Financial Markets Regulatory Dialogue which brings regulators together at irregular intervals to haggle over lists of divergent regulations one by one is all too often slow and circumvented.

And, yes, financial markets require close supervision and regulation. But what is true of financial markets need not be true of other markets.

The European Commission's Market Access Database provides information on exports from the European Union (EU) to non EU countries.

The EU also allows duty free access for fish if a country has a fishing agreement with the EU (for example, Argentina).

The European Union ETS is the main marketplace.

Europe also has much to gain from ongoing financial integration with the eventual goal of a truly pan European financial market. Greater market access, market reform, and efforts at regulatory harmonization including those under the EU's Financial Services Action Plan should help advance this trend.

That happened because European bank regulation is still characterized by a race to the bottom. Colleges of regulators, the supposed solution, are inadequate.

The major markets are the EU, the United States and Japan, with small growing markets in South East Asia and Latin America.

The U.S. and EU are two of the largest global import markets for tuna.

Meanwhile, the Commission already polices the internal market one of Europe s major policy successes by monitoring member states compliance with the single market s rules. It also launches infringement proceedings against member states that have not implemented valid directives on time, or in the correct manner.

It should provide special marketing assistance to enterprises that have suddenly lost their Russian markets. And it should open its markets, not only by abolishing its import tariffs on Ukrainian products, which has already been decided, but also by granting a temporary exemption from the need to meet all of the EU s complicated technical standards and regulations.

Policies and regulatory frameworks, as well as any regulatory reform, would follow different objectives in relation to these two segments.

The European Union, which by now was beginning to reap the benefits of globalization, transforming it into the most affluent consumer market in history, eventually comprising some 500 million people.

The EU Commission's Market Access Database can be accessed via the Internet at http mkaccdb.eu.int.

Such a mechanism should be able to monitor and ensure surveillance of capital markets and international financial operations.

LONDON The eurozone's survival is in doubt again, as Greece demands debt forgiveness and an end to austerity or else. But, though Europe's currency union is at risk, and its banking union remains at an early stage of development, the endlessly creative European Commission is embarking on another adventure a so called capital markets union.

The most detailed rules relating to RBP control are usually contained in common market or single market arrangements, which often use the EU system as a model, albeit with variations.

Unless the new internal market commissioner takes a different view, the European Commission plans to move further along the road to genuine pan European regulation. The report now goes to the European Parliament, which can be expected to push harder for more integration, as it usually does.

The main export markets for Thai canned tuna are the United States, EU and Japan.

PARIS For three years, the euro crisis has threatened not only to unravel the eurozone, but to bring down the entire European Union with it. Although the pressure from financial markets has moderated, for now, a long term resolution to the crisis remains an existential priority for the EU.

This means that Slovenia became part of the EU internal market. Therefore it no longer has the possibility to control the export of all substances and materials from other EU members figuring on the list of dual use goods in compliance with the Council Regulation 1334 2000.

That is no cause for celebration. On the contrary, it reflects European politicians lack of sufficient strategic vision and courage in dealing with the eurozone crisis and also in regulating the markets.

EU regulators initially requested that Google make a response prior to July 27.

According to the Commission, that something more is structural reform easing of firing restrictions and other labor markets regulations, liberalization of closed professions, and removal of controls on markets for goods and services.

This means that most developing countries will have to concentrate on markets such as the Middle East North Africa, the Russian Federation and Eastern Europe, and will have to compete with EU beef which will continue to be sold at subsidized prices in these markets.

He observed that the EU was providing 60 per cent of the LDCs apos preferential export markets.

Processed beans and canned mushrooms present modestly growing opportunities with the main markets being the European Union (EU) and other industrialized countries.

Reinventing Europe s Financial Markets

My own country, Uganda, has a quota to export 50,000 metric tons of sugar to the European Union market.

Although freedom of movement for labor is one of the single market s four freedoms, many EU countries are trying to protect their domestic labor markets by suspending this freedom for as long as possible. Germany, in particular, argues that the high unemployment resulting from reunification in 1990 requires it to close its labor market to the new member states to its east.

From the perspective of the market, the transactions with Japan, the ten ASEAN countries, the BRICS countries and Korea increased by 74.4 , 11.4 , 7.2 and 2.5 respectively, while the transactions with traditional markets of the United States, Australia, Canada and the European Union decreased by 30.3 , 8.9 , 7.3 and 0.8 respectively.

While the United States and the European Union (EU) 15 top the list, with their markets exceeding 6 trillion each, developing countries' markets are the main concern of global retailers.

A good regulatory framework, including enforcement measures, needs to be established in order to develop a capital market.

Strong financial market supervision will also be needed to contain risks stemming from credit booms, asset bubbles, and financial market volatility. On the structural front, measures to enhance wage and price flexibility would improve resiliency to asymmetric shocks and would help the new countries' cyclical fluctuations become more attuned to the rest of the EU.

51. Improved access to European Union markets for products from eastern and central Europe had helped expand trade in those countries in recent years.

Emerging Markets Europe Problem

So, will Europe commit to moving toward political union, and thereby address what has remained missing, despite the single market, the euro, and the Schengen Agreement s elimination of internal borders?

We call on our European Union (EU) partners to provide adequate long term support as the EU begins to reduce preferential access for sugar from African, Caribbean and Pacific States.

The ECB s supervisory role will be fully separated from its monetary policy responsibilities. In parallel, the European Banking Authority will continue to perform its existing tasks, namely developing the single rulebook for the entire single market and ensuring convergent supervisory practice throughout the EU.

It was recommended that the design and implementation of prudential regulations for financial markets, in particular those trading derivative products, and financial institutions should enhance transparency, govern risk taking and foster orderly marketplaces.

With regard to the second problem, the interest rate on rescue packages should be reduced to the rate at which the EU itself can borrow on the market. This would have the advantage of developing an active Eurobond market.

The European Union market remains the most open, and the most important, for developing country exports globally.